PV Drilling, KrisEnergy ink jackup deal

September 5, 2017

Petrovietnam Drilling & Well Service Corp. (PV Drilling) signed a contract for use of the PV Drilling jackup rig for KrisEnergy in the Gulf of Thailand.

PV Drilling I jackup. Image from PV Drilling.

The contract will be performed in Block G10/48 in the Gulf of Thailand and remain in effect for the duration required to complete the six firm wells and two optional wells, worth approximately US$6 million.

PV Drilling I will be mobilized and begin operations in early October 2017.

KrisEnergy has 89% working interest and operatorship of G10/48. Palang Sophon Offshore holds the remaining 11%.

PV Drilling I successfully completed a contract in Myanmar for Total E&P Myanmar in April 2017 and this new contract in Thailand marks the second country penetrated by PV Drilling I, in line with PV Drilling’s business strategy to expand its drilling rig services into international markets.



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